It is "the first 21st-century television network," says News Corp. President Peter Chernin. He says it will air new shows all year yet make profits for the network and affiliates "from Day 1."

News Corp. decided to create My Network TV after CBS and Time Warner announced last month that they will shut down UPN and WB, which are unprofitable, and this fall blend their most popular shows into a new CW Network.

In most big cities, CW will air on stations owned by Tribune Co., owner of 22.5% of WB. That froze out Fox's UPN affiliates in New York, Los Angeles, Chicago, Washington, Houston, Minneapolis, Phoenix, Orlando and Baltimore.

Fox will aggressively market My Network TV while also promoting local stations. For example, a station could bill itself as "My New York" or "My Orlando."

It plans sensational, but relatively cheap, shows targeting young adults.

My Network TV will begin with two steamy dramas: Desire and Secrets. They are modeled on the popular prime-time soap operas on Spanish-language TV called "telenovelas." There'll be a new hourlong episode each weeknight and a recap on Saturday night. The story lines will run about 13 weeks or 65 episodes.

In development are reality shows, including: Catwalk, which looks for a new supermodel; Celebrity Love Island, where celebrities choose non-celebrity partners; On Scene, with crime stories explored by Fox News; and America's Brainiest, a quiz show.

My Network TV will launch on Fox's UPN affiliates, plus an independent in Dallas, that reach 24% of all viewers.

Executives hope to reach 90% by signing up with other abandoned UPN and WB stations. My Network TV and its affiliates will split ad time on its evening shows. By contrast, CW wants some cash from stations and time to air shows during the day and on weekends.

CW said in a statement that "based on our roster of proven hit series that consistently rank No. 1 or No. 2 in young adult demographics," it will "uniquely benefit and serve advertisers, stations and viewers alike."